Mamata Machinery, which provides manufacturing solutions for the packaging industry, has mobilised Rs 53.56 crore from seven institutional investors via anchor book on December 18, a day prior to the issue opening.
The Rs 179-crore initial share sale will open for public subscription on December 19, with a price band at Rs 230-243 per share, and close on December 23.
The company in its filing to exchanges said it has finalised allocation of 22.04 lakh equity shares to anchor investors at a price of Rs 243 per equity share.
3P India Equity Fund is the largest anchor investor in the company, buying 5.48 lakh shares worth Rs 13.33 crore, while Authum Investment, Winro Commercial, Subhkam Ventures, and Chartered Finance & Leasing picked 2.97 lakh shares worth Rs 7.23 crore each.
Belgrave Investment Fund invested Rs 6.07 crore and Aarth AIF Rs 5.21 crore in the company via anchor book.
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Incorporated in 1979, Mamata Machinery, which manufactures and exports machines for making plastic bags, pouch, packaging, and extrusion equipment, plans to raise Rs 179.4 crore through its maiden public issue of 73.82 lakh shares at the upper price band. The IPO comprises entirely an offer-for-sale by promoters.
The company has reserved 35,000 equity shares for its employees, who will get these shares at a discount of Rs 12 per share to the final price.
The Gujarat-based firm will not receive any money through IPO and all the issue proceeds (excluding offer expenses) will go to promoters, the selling shareholders.
Beeline Capital Advisors is the sole book running lead manager to the issue.
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